Gladstone Commercial Corporation Announces Monthly Cash Distributions for April, May and June, 2016, and First Quarter Ended ...
April 12 2016 - 4:15PM
Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company”)
announced today that its board of directors declared the following
monthly cash distributions and also announced its plan to report
earnings for the first quarter ended March 31, 2016:
Cash Distributions:
Common Stock: $0.125 cash distribution per
common share for each of April, May and June, 2016, payable per
Table 1 below. The Company has paid 135 consecutive monthly
cash distributions on its common stock. Prior to paying
distributions on a monthly basis, the Company paid five consecutive
quarterly cash distributions. The Company has never skipped,
reduced or deferred a monthly common stock distribution since
inception, over 10 years ago.
|
|
|
Table 1: Summary of
common stock cash distributions: |
|
|
Ex-Dividend Date |
|
Record Date |
|
Payment Date |
|
Amount |
|
April
20 |
|
April
22 |
|
May
2 |
|
$ |
0.125 |
|
|
May
17 |
|
May
19 |
|
May
31 |
|
$ |
0.125 |
|
|
June
15 |
|
June
17 |
|
June
30 |
|
$ |
0.125 |
|
|
Total for the Quarter: |
$ |
0.375 |
|
|
|
|
|
|
|
|
|
|
|
|
Senior Common Stock: $0.0875 cash distribution
per share of the Company’s senior common stock (“Senior Common”)
for each of April, May and June, 2016, payable per Table 2 below.
The Company has paid 72 consecutive monthly cash distributions on
its Senior Common. The Company has never skipped, reduced or
deferred a monthly Senior Common distribution.
|
Table 2: Summary of
Senior Common cash distributions: |
Payable to Holders of Record During the Month
of: |
|
Payment Date |
|
Amount |
April
|
|
May
6 |
|
$ |
0.0875 |
|
May |
|
June
7 |
|
$ |
0.0875 |
|
June |
|
July
8 |
|
$ |
0.0875 |
|
Total for the Quarter: |
$ |
0.2625 |
|
|
Series A Preferred Stock: $0.1614583 cash
distribution per share of the Company’s 7.75% Series A Cumulative
Redeemable Preferred Stock (“Series A Preferred Stock”) for each of
April, May and June, 2016, payable per Table 3 below. The Series A
Preferred Stock trades on the NASDAQ under the symbol “GOODP.” The
Company has paid 123 consecutive monthly cash distributions on its
Series A Preferred Stock. The Company has never skipped, reduced or
deferred a monthly Series A Preferred Stock distribution.
|
Table 3: Summary of Series A
Preferred Stock cash distributions: |
Ex-Dividend Date |
|
Record Date |
|
Payment Date |
|
Amount |
April
20 |
|
April
22 |
|
May
2 |
|
$ |
0.1614583 |
|
May
17 |
|
May
19 |
|
May
31 |
|
$ |
0.1614583 |
|
June
15 |
|
June
17 |
|
June
30 |
|
$ |
0.1614583 |
|
Total for the Quarter: |
$ |
0.4843749 |
|
|
Series B Preferred Stock: $0.15625 cash
distribution per share of the Company’s 7.50% Series B Cumulative
Redeemable Preferred Stock (“Series B Preferred Stock”) for each of
April, May and June, 2016, payable per Table 4 below. The Series B
Preferred Stock trades on the NASDAQ under the symbol
“GOODO.” The Company has paid 114 consecutive monthly cash
distributions on its Series B Preferred Stock. The Company has
never skipped, reduced or deferred a monthly Series B Preferred
Stock distribution.
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|
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|
Table 4: Summary of
Series B Preferred Stock cash distributions: |
|
Ex-Dividend Date |
Record Date |
Payment Date |
Amount |
|
April
20 |
April
22 |
May
2 |
$ |
0.15625 |
|
|
May
17 |
May
19 |
May
31 |
$ |
0.15625 |
|
|
June
15 |
June
17 |
June
30 |
$ |
0.15625 |
|
|
Total for the Quarter: |
$ |
0.46875 |
|
|
|
|
|
|
|
|
|
|
|
Series C Preferred Stock: $0.1484375 cash
distribution per share of the Company’s 7.125% Series C Term
Preferred Stock (“Series C Term Preferred Stock”) for each of
April, May and June, 2016, payable per Table 5 below. The Series C
Term Preferred Stock trades on the NASDAQ under the symbol
“GOODN.” The Company has paid 50 consecutive monthly cash
distributions on its Series C Term Preferred Stock. The Company has
never skipped, reduced or deferred a monthly Series C Preferred
Stock distribution.
|
|
Table 5: Summary of
Series C Term Preferred Stock cash distributions: |
|
Ex-Dividend Date |
|
Record Date |
|
Payment Date |
|
Amount |
|
April
20 |
|
April
22 |
|
May
2 |
|
$ |
0.1484375 |
|
|
May
17 |
|
May
19 |
|
May
31 |
|
$ |
0.1484375 |
|
|
June
15 |
|
June
17 |
|
June
30 |
|
$ |
0.1484375 |
|
|
Total for the Quarter: |
$ |
0.4453125 |
|
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The Company offers a dividend reinvestment plan
(the “DRIP”) to its common stockholders. For more information
regarding the DRIP, please visit www.gladstonecommercial.com.
Earnings Announcement:
The Company also announced today that it plans to report
earnings for the first quarter ended March 31, 2016, after the
stock market closes on Wednesday, April 27, 2016. The Company will
hold a conference call Thursday, April 28, at 8:30 a.m. EDT to
discuss its earnings results. Please call (888) 734-0328 to
enter the conference call. An operator will monitor the call
and set a queue for questions.
A conference call replay will be available after the call and
will be accessible through May 28, 2016. To hear the replay,
please dial (855) 859-2056 and use playback conference number
29151894.
The live audio broadcast of the Company’s conference call will
be available online at www.gladstonecommercial.com. The event will
also be archived and available for replay on the Company’s website
through June 28, 2016.
If you have questions prior to or following the earnings release
you may e-mail them to info@gladstonecompanies.com.
Gladstone Commercial Corporation is a real estate investment
trust (“REIT”) focused on acquiring, owning and operating net
leased industrial and office properties across the United States.
The Company currently owns 99 properties. Additional
information can be found at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds, please visit
www.gladstone.com.
For further information: Gladstone Commercial Corporation, +1 703-287-5893
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